Wigwam is the best Linea blockchain crypto wallet

Linea Blockchain Review

Linea is a Layer-2 blockchain designed on the zkEVM technology and delivers high transactional throughput at 15 times lower costs than Ethereum’s layer 1. Also, Linea Blockchain’s ecosystem allows users to develop new decentralized applications (dApps) or migrate existing ones from Ethereum.

Origins and Vision

Congestion on the Ethereum network hinders the blockchain’s processing capacity, which often leads to increased transaction fees and delayed confirmations for users. To solve these problems, ConsenSys introduced the Linea Blockchain in 2023 as a protocol using the innovative zero-knowledge rollups technology to offer speedy performance and lower gas fees while leveraging Ethereum’s security.

Key Milestones

Linea’s mainnet was released in August 2023 to improve efficiency on the Ethereum network. This blockchain recorded over 2.7 million on-chain transactions and onboarded over 150 partners within 30 days of its mainnet going live. This remarkable progress ranks Linea among the fastest-growing zkEVM on Ethereum despite its recent introduction.             

What Consensus Algorithm Does Linea Blockchain Use?

Linea uses the innovative, EVM-compactible ZK rollup proof algorithm to process fast transactions on the network. It achieves consensus using three main elements: the Sequencer that orders, builds, and sequences transactions, the Prover that provides cryptographic proofs for transaction validity, and the Bridge Relayer that facilitates asset transfer and interaction between blockchains.

Using the Zero-Knowledge Proofs technology, Linea blockchain verifies transaction validity without exposing sensitive information about the parties involved.

How Linea has solved issues with scalability and decentralization

Linea successfully solved problems related to speed, scalability, and decentralization technically using the EVM and ZK rollup proof algorithm.

They scale the chain by performing advanced computations off-chain and sending only essential data to the Ethereum mainnet, leading to fast, cost-effective transactions. Also, this mechanism decentralizes the network with a range of participants in governance and trust among provers, sequencers, and the broader community.

DeFi ecosystem on Linea

The Linea DeFi ecosystem offers users decentralized exchanges (DEX) such as “HorizonDEX” or “Sync Swap” to swap tokens and trade assets without third parties. The list of the popular DeFi dApps might be found on the DefiLama website. 

Linea NFTs marketplaces

Linea NFT platforms facilitate the trading of digital arts such as drawings or in-game items between creators and traders globally. Well-known non-fungible token platforms on the network include “Bilinear.io” and “NFTScan,” where artists create, buy, and sell assets. 

If you want to participate in the Lenea ecosystem and work with DeFi or NFT dApps  we would advise you to use the Wigwam NFT wallet app that  already has integrated the Linea blockchain from the box.

Tokenomics and gas usage on Linea

Ethereum (ETH) is the gas fee from users on this blockchain that has no set date for releasing its native Linea token that might have more utility cases.

Conclusion

Linea is an innovative blockchain platform designed to improve the usability and performance of Ethereum and address its scalability issues. Also, its ecosystem’s EVM compatibility facilitates the development of exciting decentralized applications and web3 projects.